New York-Newark-Jersey City vs Panama City
Fair Market Rent Comparison — HUD 2025 Data
Quick Answer
Panama City is 161% cheaper for renters. A 2-bedroom rents for $879/mo vs $2,293/mo in New York-Newark-Jersey City — saving $16,968/year.
Rent by Unit Size
| Unit Size | New York-Newark-Jersey City | Panama City | Difference |
|---|---|---|---|
| Studio | $1,531 | $571 | $960 |
| 1 Bedroom | $1,813 | $706 | $1,107 |
| 2 Bedrooms | $2,293 | $879 | $1,414 |
| 3 Bedrooms | $2,674 | $1,032 | $1,642 |
| 4 Bedrooms | $3,167 | $1,302 | $1,865 |
| Median Income | $124,777 | $44,385 | $80,392 |
New York-Newark-Jersey City
- Studio
- $1,531/mo
- 1 BR
- $1,813/mo
- 2 BR
- $2,293/mo
- 3 BR
- $2,674/mo
- 4 BR
- $3,167/mo
- Median Income
- $124,777/yr
Panama City
- Studio
- $571/mo
- 1 BR
- $706/mo
- 2 BR
- $879/mo
- 3 BR
- $1,032/mo
- 4 BR
- $1,302/mo
- Median Income
- $44,385/yr
Frequently Asked Questions
Is New York-Newark-Jersey City or Panama City cheaper to rent in?
Panama City is cheaper — a 2-bedroom Fair Market Rent is $879/mo vs $2,293/mo in New York-Newark-Jersey City. That's $1,414/mo or $16,968/year more expensive in New York-Newark-Jersey City (161% higher).
What is the 2-bedroom rent in New York-Newark-Jersey City vs Panama City?
The HUD Fair Market Rent for a 2-bedroom in New York-Newark-Jersey City is $2,293/month. In Panama City, a 2-bedroom FMR is $879/month.
How do incomes compare between New York-Newark-Jersey City and Panama City?
The median household income in New York-Newark-Jersey City is $124,777/year. In Panama City it is $44,385/year. New York-Newark-Jersey City has the higher median income.
What is the studio rent in New York-Newark-Jersey City vs Panama City?
A studio apartment Fair Market Rent in New York-Newark-Jersey City is $1,531/mo. In Panama City it is $571/mo.